PSX crosses 120k mark for the first time

KARACHI: The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index crossed the historic 120,000 mark for the first time on Friday, surging to an intraday high of 120,796.67 — up by 1,856.82 points or 1.5 per cent compared to the previous close of 118,938.11.

As of 11:50 AM, the index had traded between an intraday low of 119,085.73 and the all-time high of 120,796.67.

Year to date, the KSE-100 has gained 4.05 per cent, while over the past one year, it has jumped by a remarkable 75.08 per cent. The 52-week range now stands between 67,912.35 and 120,796.67.

Among top-performing stocks in percentage terms was United Bank Limited (UBL), which rose 7.84 per cent or Rs34.85, trading around Rs479.44 before midday. Pak-Gulf Leasing Company Limited (PGLC) also saw a strong gain of 6.36 per cent, climbing from Rs0.97 to Rs16.22.

In terms of absolute price increase, Unilever Pakistan Foods Limited added Rs179.95, up 0.78 per cent, to hover around Rs23,100.

On the previous trading day (Thursday), the KSE-100 had settled at 118,938.11, up by 1,131.37 points or 0.96 per cent. Total traded volume on the index stood at 201.03 million shares.

The market rally has been driven by a combination of improved macroeconomic signals — particularly a major cut in electricity prices, a cooling inflation trend, and growing optimism around the ongoing IMF programme.

On Thursday, Prime Minister Shehbaz Sharif announced a significant reduction in power tariffs, lowering electricity prices by up to Rs7.69 per unit. He stated that the average per-unit rate for domestic users had been slashed by Rs7.15 and for industrial users by Rs7.69, pledging further relief through structural reforms in the power sector.

The announcement was met with widespread support from the business community. “This will release financial pressure on consumers struggling with their electricity bills,” said several business representatives.

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